Mitokyne, Astellas deal
Mitokyne exclusively partnered with Astellas to discover and develop compounds that target mitochondrial function. Astellas also has an exclusive option to acquire Mitokyne during the five-year deal. The biotech is eligible for up to $730 million, including an undisclosed upfront payment, R&D funding, milestones and acquisition payments.
Astellas said the partnership will target mitochondria-related diseases such as Alzheimer's disease, Parkinson's disease, amyotrophic lateral sclerosis (ALS), stroke, mood disorders, diabetes, fatty liver disease, osteoporosis, cancer, peripheral arterial disease and age-related hearing loss. Under the deal, Mitokyne will discover candidates using its mitochondrial screening platform. Astellas will select candidates to advance and is responsible for clinical development and commercialization. The companies are not disclosing the terms of the potential acquisition but said that including Astellas' equity investment in Mitokyne, it could be over $500 million. ...